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What: Shares of specialty chemical maker W.R. Grace & Co. (NYSE: GRA) jumped 14% today after the company released a better than expected earnings report.

So what: In the second quarter, revenue rose 21% to $826 million, and adjusted earnings per share of $1.11 beat estimates of $0.89 from Wall Street. For the full year, W.R. Grace expects revenue between $3 billion and $3.25 billion, an increase from its previous forecast.

Now what: Emerging markets drove most of the improvement this quarter with the U.S. market growing only slightly. The company is still in bankruptcy and asked a judge last month to approve the company's exit. I would like the company to be clear of that burden before jumping in, but the improving results are certainly encouraging.

Interested in more info on W.R. Grace? Add it to your watchlist.

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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